11596 W Sierra Dawn Blvd #64

Surprise, AZ 85374

$55,000B

2 bd · 1.0 ba · 728 sqft · Built 1995 · Manufactured · Active · 472 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $968/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$92
• HOA: −$0
• Vac / Maint / Mgmt: −$203
• Net cashflow: $385/mo
• Annual: $4,618/yr
• Cap rate: 14.69%
• Cash-on-cash: 29.99%
• DSCR: 2.33
• 1% rule: 1.76%
• Cash to close: $15,400

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $55k. Condition is rated good.
• At list price, monthly cash flow is $385 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($968 rent vs $55k).
• It's been on market 472 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#19 in AZ, #4,616 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A-; Watch: health & safety D+, amenities D-, commute F.
• Dysart Unified District (4243) (suburban): math 34% / reading 40% proficiency, ranked #73 of 249 in AZ (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Thompson Ranch Elementary (math 17% / reading 24%, grade F, #729 of 1,109 statewide, top 67%, 716 students, 74% FRL); Valley Vista High School (math 25% / reading 32%, grade F, #133 of 381 statewide, top 35%, 2,464 students, 44% FRL) — zoned schools average 59% FRL vs 41% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 37% district-wide (-12 pts) — the specific schools serving this property underperform the Dysart Unified District (4243) average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 491 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 52d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).
• Maricopa County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $10k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 0.1% rent growth), your $15k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 14.7% vs local median 3.3% in Surprise — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent is only 14% of the median local income ($81k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 472 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Repairs flagged (vision-AI assessment)

• Minor: kitchen cabinets — slight wear
• Minor: bathroom fixtures — standard fixtures